WASHINGTON — A Federal Reserve voting member says the Fed's decision to announce details about when it would trim its bond-buying program was "inappropriately timed."
St. Louis Federal Reserve Bank President James Bullard says the Fed should have waited for more "tangible signs" that the economy was strengthening and inflation was closer to the Fed's 2 percent target.
Chairman Ben Bernanke said Wednesday after a two-day policy meeting that the Fed would likely slow its $85 billion-a-month program later this year and end it next year if the economy continued to strengthen. The purchases have helped keep long-term interest rates at record lows.
At the meeting, Bernanke was authorized to make that announcement. Bullard objected to the decision, according to an explanation of his vote posted Friday on the regional bank's website.
- Fast-food strikes return amid push for wage...
- Jobless claims drop to near 6-year low
- Sugar House streetcar prepares for public launch
- 4 charged in year-long copper thefts at Utah...
- Walmart's 20 best-selling Black Friday items
- Children's museum celebrates 35 years of play
- Start thinking about retirement while in your...
- US unemployment falls to 7 pct. on 203K jobs...
- Fast-food strikes return amid push for... 30
- Obama declares health care law is... 21
- Intermountain Healthcare offering... 15
- Start thinking about retirement while... 7
- Obama to feds: Boost renewable power 20... 6
- Amazon's latest idea may make online... 6
- Walmart's 20 best-selling Black Friday... 5
- Jobless claims drop to near 6-year low 5